InterDigital Inc (NASDAQ:IDCC) Shares Ready to Rebound

InterDigital Inc (NASDAQ:IDCC) shares were down 2.84% to $83.75 on Tuesday and flat in after-hours trading. Share prices have been trading in a 52-week range of $51.97 to $102.30. The company has a market cap of $2.90 billion at 34.31 million shares outstanding.

In a press release, InterDigital Inc announced that the company has joined the GSMA as well as the GSMA’s Mobile IoT Initiative and GSMA NB-IoT Forum focused on LPWA technology during the Mobile World Congress 2017 in Barcelona.

“InterDigital is pleased to join the GSMA, the GSMA Mobile IoT Initiative and the GSMA NB-IoT forum alongside industry-leading peers and looks forward to contributing to the massive diffusion of NB-IoT and other mobile IoT technologies,” said Jim Nolan, Executive Vice President, IoT Solutions, InterDigital. “The GSMA’s Connecting Living Programme is also a great opportunity for InterDigital to cooperate with the main industry players and to enter into the ecosystem that will drive the 2020 digital transformation.”

The GSMA NB-IoT forum aims to accelerate the widespread adoption of 3GPP-based NB-IoT technology. Its members include over 60 industry leaders such as Vodafone, Huawei, Ericsson, Intel, Nokia, and Telefonica that are committed to positively contributing to the Forum’s high-level objectives that include facilitating demonstrations and proof of concept trials and promoting collaboration between all NB-IoT industry partners to ensure interoperability of solutions.

“In the space of nine months, the GSMA’s Mobile IoT Initiative has helped to establish market standards for LPWA that will play a fundamental role in securely and cost effectively connecting the billions of new devices making up the IoT,” said Graham Trickey, Head of Connected Living Programme, GSMA. “We look forward to supporting the industry with the numerous pilots and commercial roll-outs that are planned this year.”

InterDigital Inc is a company that designs and develops technologies for wireless communications, having been able to design and develop a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.

The company’s subsidiaries hold a portfolio of approximately 20,400 patents and patent applications related to a range of technologies, including the fundamental technologies that enable wireless communications. Products integrating its technologies include mobile devices, such as cellular phones, tablets, notebook computers and wireless personal digital assistants; wireless infrastructure equipment, such as base stations, and components, dongles and modules for wireless devices. It is focused on approximately two technology areas: cellular wireless technology and Internet of Things (IoT) technology.

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